Larsen and Toubro (L&T), India's largest engineering and construction conglomerate, has informed that its heavy engineering division has secured an contract worth US$ 160 million from Petrobras, to manufacture and supply 10 Hydrotreating Reactors and 12 Coke Drums for Petrobras 200,000 bpd Northeast refinery project in Brazil.

The company claims that the latest deal is the largest order ever received by L&T from South America.

According to the company, the reactors will be manufactured using advanced technology steels containing Chromium, Molybdenum and Vanadium, whilst the Coke Drums will be manufactured using Cr-Mo steel.

These Reactors and Coke Drums are scheduled to be delivered to the refinery in Brazil in the fiscal 2010-11.

Ashu Kakkar, Technical analyst at Skypower financial services has recommended investors to buy the stock on declines. He believes the counter looks impressive on the charts and it could reach Rs 4500 levels in the next two to three years.